US stocks end lower after Fed cuts interest rates

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NEW YORK: Wall Street stocks finished lower on Wednesday (Jul 31) after the Federal Reserve cut interest rates but offered mixed signs on what the ...

but offered mixed signs on what the move meant for future monetary policy.

Stocks had initially edged lower after the Fed announced at 1800 GMT that it planned a 25 basis point interest rate cut. "Let me be clear. I said it's not the beginning of a long series of rate cuts. I didn't say it's just one or anything like that," Powell said. "The bottom line is the market is concerned we might not be getting as many rate cuts as they thought."

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